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WAEC Accounting 2022 Paper
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© africaexams.com
Question : 44
Total: 50
Use the following information to answeer questions below
Kako Ltd bought a machine for D 1,200,000 on 1st January 2018. Depreciation was provided annually at a rate of 10% using the diminishing balance method. The machine was sold for D 880,000 on 31st December 2021.
D 874,800
D 972,000
D 1,080,000
D 787,320
Validate
Solution:
From 2018 to 2021( accounting year) is three (3) years
D
Cost
1200000
Year 1 ( 10% x 1200000)
120000
1080000
Year 2 ( 10% x 1080000)
108000
972000
Year 3 ( 10% x 972000)
97200
Depreciation
874800
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